Aug 20, 2024 02:06 PM
OPINION
Commentary: Can India Be the Next China? There’s a Better Question to Ask
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Workers install solar panels in a village in Kutch district of Gujarat, India, on Jan. 12. Photo: VCG
In the past couple of years, the economic fortunes and outlook for China and India have diverged. China’s economic recovery has been weak after the pandemic while India’s has been strong. China is also facing many structural challenges, including a rapidly aging population, while India has a relatively young and growing labor force and a far friendlier external environment.
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- China faces structural challenges such as an aging population, while India's younger, growing labor force drives its strong economic recovery post-pandemic.
- India's manufacturing growth potential is bolstered by cheap labor, improved infrastructure, and a large domestic market comparable to China’s in 2006-2007.
- Although India’s rising consumption may soon outpace Japan's, its future impact on global commodities and energy markets is expected to be less significant than China's.
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